'Fast Money' Recap: Bad News Pulls Down the Market.

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Dennis Gartman's 2008 Outlook

Dennis Gartman, author of The Gartman Letter joined the "Fast Money" crew to discuss his take for 2008. Gartman explained he continues to be bullish on gold and he thinks it will trade to $1000 in a year or two. He also thinks the uptrend will continue in the grain markets for wheat, corn and soybeans. Gartman mentioned he sold some Potash(POT Quote) on Thursday into strength, but if the stock were to decline $10-$15 he would come right back and buy it.

Word on the Street

Crude oil trades to $96.62 on inventory numbers and off the Benazir Bhutto assassination in Pakistan. Najarian, Adami and Macke all like Tesoro(TSO Quote).

Oracle(ORCL Quote) displayed some strength Thursday as technology stocks were hit hard. Adami thinks Oracle is inexpensive and has more room on the upside. Najarian mentioned that Morgan Stanley says Oracle is its "Top Pick" for 2008. Apple(AAPL Quote) and News Corp(NWS Quote) closed a deal to rent Fox films through iTunes. Najarian expects Apple will see some pressure through the end of the year as investors take some profits. Macke feels that Netflix(NFLX Quote), Blockbuster(BBI Quote) and Sony(SNE Quote) will all be left behind in this wave of the digital revolution.

Wall Street Journal columnist Walt Mossberg gave a great review to Dell's(DELL Quote) new XPS One PC. Adami explained that Mossberg said the New Dell PC is Apple-like in its design and performance. Adami thinks Dell is worth owning here. Macke says the new Dell PC has more risk as a business model than before.